Monday, February 14, 2000 Maritime News

Kvaerner To Sell Shipyards, Maritime Unit

Feb 14, 2000

Kvaerner Plc has agreed to sell its maritime and technology unit Kvaerner Maritime for $15.9 million in cash. Separately, the group will also sell its Fjellstrand shipyards in Norway for $12.

SembCorp Sees Profits Rise, Eyes Business Abroad

Feb 14, 2000

Shipyard operator SembCorp Marine Ltd. posted a 9.6 percent rise in 1999 net profit to $46.5 million and expects to maintain profitability this year. SembCorp,

Freight Rate Hikes Benefit South Korean Shipping Firms

Feb 14, 2000

South Korea’s major shipping companies benefited in 1999 from freight rate hikes and lower foreign debt service costs resulting from the won’s surge against the dollar, analysts said.

Insurers Should Control Ship Classification System: Broker

Feb 14, 2000

Insurers should control the ship safety classification process in the light of weaknesses exposed by the Erika’s loss, a senior tanker broker said. Insurance companies

RINA Testifies In International Erika Probe

Feb 14, 2000

Officials of Italian ship safety inspector RINA, which approved the tanker Erika as safe before it sank off France in December, testified to an international inquiry into the disaster,

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